National World, (LSE:NWOR) has announced that it has acquired JPI Media Publishing Limited (“JPI”) and its subsidiaries (“JPI Group”) from JPI Media Limited for £10.2 million with completion on 2 January 2021.
The JPI Group is the third largest publisher of regional newspapers and websites in the UK with over 100 newspapers including 13 daily newspapers. Iconic brands and websites include: The Scotsman, The Yorkshire Post, Belfast News Letter, Sheffield Star, Edinburgh Evening News, Portsmouth News and Lancashire Evening Post.
Commenting on the acquisition, National World’s Chairman, David Montgomery, said:
“JPI ‘s historic publishing brands represent the best in journalism and have reliably served their communities and supported local businesses, in some cases for centuries, and never more than in the last year. National World will uphold this tradition and implement modern technology to grow the business across a wider footprint based on high quality, unique content.
“I am pleased with the appointment of Mark as Chief Commercial Officer and welcome Daniel to the Board. We have a very experienced Board with extensive knowledge in digital and print publishing to deliver our transformational strategy for growth.”
